Friendly Reminder for LLCs and LPs: Delaware Is Looking for Your Dollars

25 April 2014 Privacy, Cybersecurity & Technology Law Perspectives Blog

It’s that time again: time to pull out your checkbooks and send Delaware your dollars. As I previously wrote, while corporations had an annual franchise tax payment due in March, it’s time for LLCs and LPs to pony up. It’s the cost of housing your business in Delaware, but sometimes we all need a little reminder.

Delaware LLCs and LPs have it easy: no annual report is required, and also unlike the requirements for corporations, the franchise tax payment equals $250 and is due to the Secretary of State of Delaware on or before June 1, 2014 for limited liability companies and limited partnerships. The franchise tax payment can be paid on-line directly with the Secretary of State of Delaware via this link.

Alternatively, this payment can be paid by check and delivered (not postmarked) on or before June 1, 2014, to either the 1) State of Delaware, Division of Corporations, P.O. Box 5509, Binghamton, NJ 13902-5509 OR 2) for overnight delivery to: JPMorgan Chase, 33 Lewis Road, Binghamton, NY 13905: Attn: State of Delaware, Division of Corporations.

Too busy enjoying this long awaited spring to make your tax payments? That could hurt, so get it done: Penalty for non-payment or late payment is $200.00. Interest accrues on the tax and penalty at the rate of 1.5% per month. Save your dollars and get it done timely. Legal counsel and paralegals are always ready to help if you have questions, too.

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